Big data, small strategy

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BIG DATA, SMALL STRATEGY

Strategy by experimentation

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/ Mark Bjornsgaard/ Director Fluxx Adventures/ Technology incubator/ Invests in our own ideas

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The next 30 mins…

/ Part 1 – A brilliant theory (10mins) What we mean by Big Data? How does it really work? In the real world

/ Part 2 – The real story (10mins) The 7 things they don’t tell you about using big data

/ Part 3 – Strategy by experimentation (10mins)

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WHAT WE MEAN BY BIG DATA?

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Big data

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What is the data in big data?

Big Data Sets

Sales data (epos and

online)

Web analytics

Advertising analytics

CRM databases

Machine data –

website logs

Unstructured social data

Documents and email

Sensor data

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How does data become big?

Volume

VarietyVelocity

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A definition…

“Data that’s an order of magnitude bigger than were accustomed to”

“Data that exceeds the processing capacity of conventional database systems. The data is too big, moves too fast, or doesn’t fit the structures of our database architectures”

“A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient”

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Like its 1996 all over again…

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HOW DOES IT REALLY WORK?

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How does it work?

R HadoopData scientists

Big data is…..“ A set of technology advances that have made capturing and analysing data at high scale and speed vastly more efficient”

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How does it work?

Your data

“big data”

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How does it work?

Your data

“big data”

Category 1 Category 2 Category 3 Category 40

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IN THE REAL WORLD

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Then – have a sale Now – target individuals

In…Retail

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Then - pipelineNow – triangulate multiple data sets to identify targets

In…online marketing

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Then – data locked in unusable formats

Now – rich, real time analytics

In…IT

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Then – paper validationNow – telematics and unstructured data

In…risk and fraud management

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Then – gut instinctNow – crime hotspot identification

In…law enforcement

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Then – keyword searchesNow – semantic and NLP “understanding”

In…medical research

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Then – subjective “truth” Now – objective insight

In…sports

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PART 2 – IN THE REAL WORLD

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90% of colleagues don’t really care (and probably never will)

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A Vanguard doesn’t really exist!

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Use cases are still limited

Big Data

Digital marketing

Data exploration

and discovery

Fraud detection

and prevention

Social network and relationship

analysis

Machine-generated

data analytics

Data retention,

data archiving

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Hires are scarce…

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R and Hadoop aren’t for everyone…

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Big data only shows us what’s not obvious…

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Using big data actually means….

/ Colleagues who are biologically pre-programmed not to care

/ No best practice to rely on/ Very specific use cases within business/ Hiring aching expensive people/ To use a software anyone with an IQ of less than 150

shouldn’t go near/ All in the cause of…..looking for non conclusive,

obscure patterns, which may or may not lead to any business value

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PART 3 – STRATEGY BY EXPERIMENTATION

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Strategy by experimentation

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1. Set aside some time (and budget)

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2. Find a partner you trust

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3. Get everyone involved

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4. Identify a business issue you have…

Why is the ROI on my CPC account

declining?

What kind of people make the

largest purchases?

How can I drive sales of

recommendations in the check out

process?

There’s always a sales spike on

Thursday evenings – why?

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5. Identify data sets which might hold clues

Adwords data

Web analytics data

Brand tracking

Transactional data

Store footfall

Social data

There’s always a sales spike on

Thursday evenings – why?

Logistics files

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6. Play detective

Patterns CorrelationsRelationships

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7. Rinse and repeat

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8. Re-humanise the story…

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9. Shout about it

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10. Enjoy the journey

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To summarise

/ Define big data for yourself – see how it could apply to you

/ Accept the challenges/ Start small, grow and publicise success

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Thank you!

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